VP & Global Head of Pricing & Profitability, Wayfair
Search every verified Corey Gilbertson interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In a 2019 interview, Wayfair co-founder Steve Conine discussed the company’s growth and culture. He described Wayfair as a technology company that manages technology execution risk aggressively, and emphasized the importance of maintaining company culture, stating that it "naturally degrades if you don't keep fighting for them." Conine noted that the company had over 2,100 data scientists and engineers in Boston and was revamping its large parcel freight transportation to improve the customer experience at lower cost. Conine also reflected on the company’s history, starting as a series of niche websites in 2002 before consolidating into a single brand in 2011. He reported that in Q3 of that year, Wayfair grew 43% year-over-year to $1.7 billion in revenue. He advised that growing a large company takes time and that leaders should avoid trying to expand "too big too quick," instead maintaining a natural cadence.
“We have always thought very much about this business as a technology company and we are, I feel, very adept at knowing how to manage technology execution risk meaning we can play it much more aggressively than you would play it if you were running a consultancy.”
“The culture of a company, if it's done right, we've hired great people and then you retain great people. We're trying to create a culture where they can all work to their full potential. It's not just making it comfortable or cozy, it's making sure it's challenging but reasonably safe, where risk is rewarded and errors...”
“If you stop worrying about culture and stop caring about it, and your leadership team decides to rest on laurels, it will degrade. Cultures naturally degrade if you don't keep fighting for them.”
“Boston punches way above its weight in talent. We identified early on that Boston hits many checkboxes for quality of life, easy commutes, and great people to work with, which is why we've stayed and grown here.”
“We have over 2,100 data scientists and engineers working here in Boston, and about 5,000 people in the city overall. We've had a lot of success bringing people back to the region who went to school here but left for career stints elsewhere.”
“It's very easy to throw up a sexy-looking website, but it's very hard to durably make the experience really tight and reliable. Most of the tech we work on is about getting the detailed experience right that customers don't initially think about but require.”
“AR and VR are driven by our belief that customers will want these technologies. It's still in its infancy, but we want to be part of the pack experimenting and showing customers the potential of our platform.”
“In Q3 we grew at 43% year over year with $1.7 billion in revenue, putting us just under $7 billion annual run rate. To continue growing at a reasonable pace, we need a lot of people, especially in small teams focused on improving the customer experience.”
“We're revamping the way we handle large parcel freight transportation, an area that was historically very difficult and costly. Now at our scale, we can take control, improve the experience dramatically, and do it for less cost.”
“Growing big companies takes time. The first thousand dollars and first ten thousand dollars a day were dramatic, but growth compounds slower than you'd think. Don't try to go too big too quick; keep a natural cadence to stay honest and do well long-term.”
Watch The INBOUND Studio sit down with Wayfair Co-Chairman & Co-Founder, Steve Conine for our inaugural Elevate Boston ...
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